Office insurance policies provide coverage against damage that is caused by wind, fire and snow. Risks an insurance company does not want to cover will be excluded on the policy. You can see a listing of these risks on the Exclusions section of a business insurance policy.
A standard business insurance policy does not coverage damage that results from flooding. You can get coverage for flood damage by purchasing a separate flood insurance policy. Coverage for flooding will be excluded even if your business is not located in a flood zone. The National Flood Insurance Program provides flood insurance that you can purchase from your insurance agent.
Natural disasters such as a earthquake are also excluded on an office insurance policy. If you require a policy for earthquake coverage, you will need to purchase a separate policy. However, you may be able to add an earthquake endorsement to a commercial property insurance policy.
The Terrorism Risk Insurance Act of 2002 requires businesses to purchase separate terrorism coverage to pay for losses due to terrorism attacks. This means that any act of terrorism is excluded on all office insurance policies. If you have a worker’s compensation policy for your business, any workers that are injured in a terrorist attack will be covered.
Office insurance policies include exclusions for unknown problems that an insurance company will not want to cover. One of these exclusions is for mold damage. However, you may able to add this coverage to your policy through an endorsement. Speak with your insurance agent if you require mold coverage for your business.
Nuclear Attack and War
All business insurance policies will exclude damage that is caused by a nuclear attack. The exclusion of this coverage is standard and no endorsements are available. Damage that is suffered during any type of war is also excluded on an office insurance policy. This is damage that no insurance company will cover.
Employees that are injured on the job are covered by a worker’s compensation policy. The coverage for this policy is not provided on a business insurance policy. Most businesses that have employees need to purchase w worker’s compensation policy.
Errors and Omissions
Professional liability is not covered on a standard business insurance policy. You will need to purchase an errors and omissions liability policy for coverage. However, these policies also have exclusions for risks that are not covered by the policy. Some of these include violations of the law and damage to any property.